11 Sep, 2017AST 4:30 pm31 Oct, 2017
What is the Regional Investor of the Year Award (RIYA)
The RIYA is a collaborative initiative between Caribbean Export Development Agency (Caribbean Export) and Caribbean Association of Investment Promotion Agencies (CAIPA) to recognize and promote the contribution of foreign and local investors to the Caribbean economy.
The 23 countries that may participate in this initiative include: Anguilla, Antigua & Barbuda, Aruba, the Bahamas, Barbados, Belize, the British Virgin Islands, Cayman Islands, Curaçao, Dominica, Dominican Republic, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Kitts and Nevis, Saint Lucia, St. Vincent and the Grenadines, Sint Maarten, Suriname, Trinidad and Tobago and the Turks & Caicos Islands.
In 2013/2014, the RIYA focused on the creation of jobs by investors during a particularly difficult period for the world economy and specifically the Caribbean – the global financial crisis. In 2014/2015, the focus was on the contribution of regional investors to the green economy. In 2015/2016, the RIYA turned its attention to the topic of innovation and the contribution of local and foreign investors to advancing a new idea, devices, invention or methods into a good or service that creates value and satisfies a specific need for which customers will pay.
This year, 2016/2017, we will focus our attention on the investments made by legally registered Caribbean investors in ensuring customer satisfaction and retention using Caribbean labour and the impact that this has had on their businesses and the society as a whole. Studies have shown that investments in securing customer loyalty is critical to business growth and sometimes, small investments and small changes that connect your business to customers in a personal way can make significant changes in terms of ensuring brand loyalty in the midst of a competitive marketplace. Engaging your labour force in the development and delivery of your services to customers is critical. We want to know about the investments you have made to secure customer loyalty and the role that your staff played in making this possible.
Both foreign and local investors must demonstrate that they have made significant contributions to advancing customer satisfaction and retention using human resources in the Caribbean and that this has had a positive impact on their business growth and on the society as a whole improving lives. It must be emphasized however that this is not an award that simply measures customer satisfaction and retention, but investment in customer satisfaction and retention using Caribbean human resources, so the applicant must be a foreign or local investor and must employ Caribbean labour.
Awards will be given to distinctive investment projects in 3 categories, namely:
- Local Investor of the Year Award: This award will seek to honour local investors, those of Caribbean birth who have invested in operations in the region.
- Foreign Investor of the Year Award: This award will seek to honour, as the name suggests foreign investors (non-Caribbean nationals), who have invested in operations in the region.
- Special Awards: Special recognition will be given to women investors and young entrepreneurs who through their business initiatives have made a significant contribution to the region through their investments in the targeted area.
An overall winner will be chosen from the successful candidates in the above categories and will be named Regional Investor of the Year Awardee 2016/2017 on 5 December 2017.
These distinguished investors and their success stories will be featured in planned investment promotion campaigns, on the websites of both agencies and in additional collateral material. In addition, the investor must demonstrate a willingness to participate in investment promotion campaigns undertaken by CAIPA and Caribbean Export globally (where resources allow).
- Who can apply
Local and Foreign investors, investing in any one or more of the territories noted in Section I may apply for these awards. An applicant may enter as a Local Investor or a Foreign Investor. A local investor or a foreign investor may also apply to the Special Awards category.
For partnerships or joint ventures, the partner with the highest stake in the operation will determine the category in which the applicant will be judged.
- How to apply
Applicants must fill out an online application form and submit these to the RIYA Evaluation team (electronically). The Investment Promotion Agencies in the 23 territories noted in Section I, paragraph 2 above will assist in shortlisting candidates.
From these short-listed submissions a distinguished Evaluation Committee made up of regional stakeholders will select overall category winners and an overall winner.
The award winners will be named at the upcoming Outsource to the Caribbean Conference that will be held in Montego Bay, Jamaica on 5 December 2017.
- Deadline for Submissions
The deadline for submission of online applications is 31 October 2017.
The evaluation of submissions will occur during the period 6-17 November 2017.
The runners-up in each category will be announced on 20 November 2017 and will be invited to participate in the RIYA Ceremony at the Iberostar Rose Hall Beach Hotel, Jamaica, on 5 December 2017. (All costs related to travel will be covered by Caribbean Export).
The winners will be announced on 5 December 2017.